Pushed to the brink
The results of a new Yahoo Canada/Maru Public Opinion survey released today reveal that high inflation has pushed half (49%) of Canadians and/or their family to make drastic lifestyle changes, with another one-third (33%) who say rising interest rates are pushing themselves and/or their family to the brink of financial despair.
The survey also finds that in this financially challenging environment, a majority of Canadians (74%) are cutting back on spending, with many loading up on their credit card(s) to pay the bills (27%) and/or cashing out investments to shore up their finances and pay off debt (21%).